Mr. Stephen Stares reports
BENTON ENCOURAGED BY CLEAN AIR METALS LATEST DRILL RESULTS AND ADVANCEMENT PLANS; PROVIDES GREAT BURNT UPDATE AND GRANTS OPTIONS
Benton Resources Inc. has been very encouraged by recent drill recent results and advancement plans of Clean Air Metals Inc. Benton still holds approximately 24.6 million shares of Clean Air and also retains a 0.5-per-cent net smelter return royalty from production on the Escape Lake deposit and a 0.5-per-cent net smelter return royalty from production on any mineral claims comprising the Thunder Bay North portion of the project that a net smelter royalty has not previously been granted. Benton's 0.5-per-cent NSR royalty includes the Beaver and Cloud zones plus portions of the Bridge zone, each being part of the Current Lake deposit. Clean Air recently announced exciting drill results (see news release dated Sept. 10, 2024) with exceptional intercepts of PGMs (platinum group metals), along with copper and nickel values.
Highlights from the first holes released:
- 51.79 metres of 4.92 grams per tonne platinum, 4.66 grams per tonne palladium, 1.07 per cent copper and 0.55 per cent nickel from 86 metres downhole in hole CL24-001, including:
- 11.51 grams per tonne platinum, 10.64 grams per tonne palladium, 2.61 per cent copper and 1.25 per cent nickel over 9.29 metres from 128 metres;
- 25.82 grams per tonne platinum, 24.50 grams per tonne palladium, 6.94 per cent copper and 3.87 per cent nickel over 0.97 metre from 136.3 metres (massive sulphides);
- 31.40 metres of 4.22 grams per tonne platinum, 4.04 grams per tonne palladium, 0.95 per cent copper and 0.56 per cent nickel from 118 metres downhole in hole CL24-003, including:
- 12.25 metres of 5.56 grams per tonne platinum, 5.48 grams per tonne palladium, 1.19 per cent copper and 0.70 per cent nickel from 123 metres.
The company is encouraged that the new management team at Clean Air is focused on advancing the Thunder Bay North project, which is growing in size and potential grade.
Excerpts from Clean Air's latest news release (as follows) have outlined the path forward for this excellent project.
The recently completed summer drilling program targeted near-surface high-grade zones within the Current deposit to better define their lateral continuity and tonnage potential. These initial results confirm that high-grade mineralization extends beyond what was outlined in the last resource model for this area (National Instrument 43-101 technical report on the Thunder Bay North project, Ontario, Canada, SLR Consulting Canada Ltd., June 19, 2023). Results from hole CL24-003, along with adjacent holes, outline a potentially larger high-grade core within this section of the intrusion than previously evaluated.
Clean Air Metals' chief executive officer, Mike Garbutt, commented: "We are encouraged by this program's first set of results. These exceptional grades, minable widths and near-surface location support the future development of this buildable asset. We are focused on significantly improving the TBN project economics by fully defining the highest-value mineralization within the Current and Escape deposits. The initial results from this program have exceeded our expectations."
The goal of the program is to target near-surface, high-grade zones of mineralization and improve both the continuity and total mineral resource within these zones. The remaining eight holes of the drill program have been completed, and all have intersected mineralization in four separate targets. The assays on these holes are pending and will be released when received.
Early drill results outline improved continuity
The new technical expertise brought to the project and led by Dr. Lionnel Djon resulted in a revised geological template for the high-grade areas at Thunder Bay North that mirrors flow processes similar to those associated with alluvial gold processes. In employing this template, the first two holes expanded the zone of thick, high-grade pods along strike in the Lower Current zone. They also provide early proof of concept that increasing data density with tighter drilling could further extend the continuity of the high-grade mineralized zones within the deposit and contribute to increased tonnage and grade.
Following results from the remaining drill holes of the summer 2024 campaign, the company will develop an exploration program designed to discover new high-grade zones within the Current and Escape deposits and a resource delineation program to increase the resources contained in the additional high-grade areas that occur at both the Current and Escape deposits.
The presence of massive sulphides is significant
Hole CL24-001 intersected 0.97 metre of massive sulphides near the base of the intrusion, in a zone where reduced magma flow and cooling conditions promoted sulphide settling and metal concentration, leading to the formation of high-grade mineralization. Past drilling at the Current and Escape deposits has also intersected pockets of high-grade massive sulphides in similar embayments in the intrusion. These occurrences demonstrate the potential for these deposits to host additional massive sulphide, and continued exploration work is needed to identify the feeder zone for this material.
Drill results support the strategy for Thunder Bay North project development
The positive results from this program support the company's view that both deposits together can support a smaller-tonnage, high-grade and low-capital-cost mine plan. The higher-grade mineralization is spatially distributed in distinct and separable zones that allow for targeted extraction using traditional open-stope mining methods. This approach will form the foundation for a future technical study, following the results of the next phase of drilling.
To further derisk that project, the company is contemplating a move to advanced exploration that is highlighted by the potential extraction of a bulk sample from the Bridge zone at the Current deposit. The goal for the bulk sample will be to validate the high-grade mining approach outlined herein as well as quantify the metallurgical performance of a toll milling scenario on a larger scale.
Great Burnt update
Benton is well into its phase 4 diamond drill program with four drill holes completed and the fifth drill hole is under way. In excess of 300 samples have been cut and sent for analysis, with results expected in the coming weeks. Surface exploration continues with various new discovery areas requiring follow-up. A comprehensive news release will be distributed as the company compiles all new and continuing data.
The company would also like to announce that, subject to regulatory approval, the board of directors has approved the grant of 3.75 million incentive stock options to directors, officers, employees, advisers and consultants of the company at an exercise price of 12 cents for a period of five years from the date of grant. The options are subject to the vesting provisions contained within the company's stock option plan.
Quality assurance/quality control protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd. in Springdale, Nfld., for preparation and analysis. All samples were acquired by saw cut (channels/drill core), with one-half submitted for assay and one-half retained for reference, or handed (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's gold (fire assay) at 30 grams plus ICP-34 method that delivers a 34-element package utilizing a 200-milligram subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analyzed with Eastern's atomic absorption method, using 0.200 gram to 2.00 grams of sample, digested with three acids. All reported assays are uncut. Eastern Analytical achieved ISO 17025 accreditation in February, 2014.
Qualified person
Stephen House, PGeo, vice-president of exploration for Benton Resources, the qualified person under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, Benton retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is focused on advancing its high-grade Great Burnt copper-gold project in central Newfoundland, which has a mineral resource estimate of 667,000 tonnes at 3.21 per cent copper indicated and 482,000 at 2.35 per cent copper inferred. The project has an excellent geological setting covering 25 kilometres of strike and boasts six known copper-gold-silver zones over 15 kilometres that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and copper-gold soil anomalies. Phase 1 and phase 2 drill programs returned impressive results, including 25.42 metres of 5.51 per cent copper, including 9.78 metres of 8.31 per cent copper, and one metre of 12.70 per cent copper.
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